Bush Plan May Forgive Some Mortgage Loans, Washington Post Says

A Shrub disposal program to aid
borrowers whose mortgages are greater than the value of their
homes may name on loaners to forgive portion of the loans, the
Washington Post said, citing unidentified authorities officials.

Under the proposal, the Federal Soldier Housing Administration
would promote loaners to forgive parts of loans and reissue
smaller mortgages in exchange for fiscal championship from the
federal government, the newspaper reported today. Borrowers
would have got got to hold to remain in their homes, be able to afford
the new payments and have loaners who mark off on the changes.

Administration functionaries are still ironing out details,
such as how large a mortgage would have got to be compared with the
home's value, the newspaper said. One unidentified official
said the program likely won't be announced before President George
W. Shrub tax returns from adjacent week's European trip, the Post said.

The conception is similar to elements in statute law proposed
earlier this calendar month by U.S. Representative , a
Massachusetts Democrat and president of the House Financial
Services Committee, the newspaper said.

To reach the newsman on this story:
in American Capital at
.